The company expects to lift its full year adjusted net operating profit by up to 13 per cent to be between $US230 million and $US250 million ($A329.39 million-$A358.04 million).

In November, James Hardie downgraded its forecast by up to $US20 million, citing below-target growth in its share of an uncertain US housing market.

In its latest update to investors on Tuesday, the company said while the US housing market had been improving, conditions remain uncertain while some costs were volatile.

However it expects margins for its US and Europe fibre cement business to be towards the higher end of, or possibly exceed, its targets.

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IG market analyst Evan Lucas said he believed James Hardie could beat its profit forecast, based on the improvements in underlying earnings the company reported when it announced its first half results in November.

James Hardie's first half adjusted earnings before interest and tax rose 17 per cent for the half, with margins for its fibre cement business exceeding target in Europe and the US.